MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Down 3.2% - Here's Why

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) traded down 3.2% during trading on Friday . The company traded as low as $50.21 and last traded at $50.21. 1,849 shares traded hands during trading, a decline of 99% from the average session volume of 355,601 shares. The stock had previously closed at $51.88.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MLTX shares. Wedbush reiterated an "outperform" rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a "buy" rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Cantor Fitzgerald restated an "overweight" rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Finally, Wolfe Research downgraded MoonLake Immunotherapeutics from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $81.43.

MoonLake Immunotherapeutics Trading Up 0.6 %

The firm's 50 day simple moving average is $50.82 and its 200-day simple moving average is $47.64. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -40.44 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same quarter in the previous year, the business earned ($0.18) earnings per share. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Activity at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of the company's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the sale, the director now directly owns 171,980 shares of the company's stock, valued at approximately $9,238,765.60. This represents a 49.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE bought a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter worth approximately $44,000. Quarry LP boosted its position in MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company's stock worth $132,000 after purchasing an additional 1,900 shares during the period. Barclays PLC increased its holdings in shares of MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company's stock valued at $283,000 after purchasing an additional 5,229 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of MoonLake Immunotherapeutics by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company's stock valued at $655,000 after purchasing an additional 2,700 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the 3rd quarter worth about $706,000. Institutional investors and hedge funds own 93.85% of the company's stock.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.